Advanced Micro Devices Inc says that its chief financial officer Marvin Burkett has resigned to take a senior management position with a non-competing company. Burkett’s departure comes at a time when AMD is facing a quarter in which it expects revenues to see a solid decline from the fourth quarter while its net loss increases significantly. The fourth-quarter loss was $12.3m on revenue of $613.2m. A spokesperson for AMD insists that Burkett was not ousted but was headhunted away by another technology company who offered him an opportunity that was too good to pass up. He added that AMD was sorry to lose him. President and chief operating officer Richard Previte will assume Burkett’s responsibilities until a successor is found. Burkett has been with the Sunnyvale, California chipmaker since 1972 and was appointed CFO in 1989.
